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Web3 and the metaverse are two of the hottest buzzwords in tech circles right now. The appetite among investors has precipitated a “cascade” of investment into blockchain platforms, according to Crunchbase, which cites recent funding rounds for Polygon Technologies and Alchemy worth a combined $650 million. One vertical attracting more attention than most is gaming. In early March, a group of heavyweight investors, including billionaire Bill Ackman and gaming giant Animoca Brands announced a new Web3 venture fund focusing on the metaverse, gaming, and social applications. Around the same time, Griffin Gaming Partners, a gaming-focused VC fund, announced it had successfully raised $750 million.
However, this wave of…
